Ratan Naval Tata, the flamboyant Chairman of Tata Group was noted for merger and acquisitions which Tata Companies undertook under his leadership. However, there were surprising disinvestments and sell of which Ratan Tata did in various key sectors. These are no less important and most of those brands sold by Tata are no longer in  market today.
Here is the list of major Sellouts
2005: Tata exits Idea Cellular — venture that included the Aditya Vikram Birla Group and the US-based AT&T to focus on CDMA-based mobile telephony business.
1997: Lakme brand and assets sold to Hindustan Unilever
1994: Sells Tata Oil Mills (Tomco) to Hindustan Unilever
1998: Group’s pharma company Merind sold to Wockhardt
1998: Voltas demerges its white goods and domestic refrigerator segment into a joint venture controlled by Electrolux
1999: Tata Group sells its 7.2-percent stake in Associated Cement Companies (ACC) to Ambuja Cement Holdings, a subsidiary of Gujarat Ambuja Cements (GACL)
2000: Tata Group exits cement business, selling their remaining stake in ACC to the GACL group